QPR have confirmed that Formula One magnates Flavio Briatore and Bernie Ecclestone have “made a recommended offer” for the Coca-Cola Championship club. Briatore, head of the Renault F1 team, and Ecclestone will now take control of the club although current chairman Gianni Paladini will remain in position.

Paladini said: “This offer provides much needed investment and an excellent opportunity to move the club forward which will be translated into positive results on the pitch. I am delighted that Flavio and Bernie have asked me to remain on the board and I hope to play a large part in the future of QPR.”

The news was announced prior to the Championship clash with Southampton at Loftus Road, where all 11 Rangers players donned shirts carrying Ray Jones’ name on the back. The 18-year-old striker was killed last weekend in a car accident and the club confirmed that no further comment on the takeover would be made today.